HomeMy WebLinkAbout95-69 - Open Space Bond Issue for Fiscal Year 1995-96RESOLUTION NO. S— 6
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
COSTA MESA, CALIFORNIA, FIXING THE TAX RATE PER
CENTUM AND LEVYING A TAX UPON ALL PROPERTY
WITHIN THE CITY OF COSTA MESA WHICH IS TAXABLE
TO MEET THE CITY'S OBLIGATION UNDER THE 1974
OPEN SPACE BOND ISSUE FOR FISCAL YEAR 1995-96.
THE CITY COUNCIL OF THE CITY OF COSTA MESA DOES HEREBY RESOLVE
AS FOLLOWS:
WHEREAS, an election was held on September 11, 1973, pursuant to Title 4, Division
4, Articles 1 through 8, Sections 43600 through and including 43904, California Government
Code; and
WHEREAS, a bond issue for open space lands was approved by the electorate at said
election; and
WHEREAS, pursuant to Section 43632, California Government Code, the City of Costa
Mesa is required to levy a tax sufficient to meet all payments of the principal and interest on
said bonds;
NOW, THEREFORE, BE IT RESOLVED that there be, and is hereby levied upon all
property within the City of Costa Mesa which is taxable therein for municipal purposes, a tax
for the purpose of raising the sum of two hundred seventy-seven thousand three hundred twenty
dollars ($277,320.00), with which to meet payments of principal and interest of bonded
indebtedness incurred under the 1974 Open Space Bond Issue Election for the current fiscal year
of 1995-96, which said amount is sufficient for the aforesaid purpose, and the Tax Rate
Calculation is contained in Exhibit "A" attached hereto.
BE IT FURTHER RESOLVED that the rate per centum of the tax hereinafter levied shall
be and is hereby fixed as .0044 percent of the full cash value of all taxable property within the
City of Costa Mesa for the aforesaid purpose. Said tax rate is levied pursuant to Article XIII -A,
Section 1(b) of the Constitution of the State of California and is for the purpose of paying the
requirements of voter approved indebtedness.
BE IT FINALLY RESOLVED that this Resolution shall take effect and be in full force
immediately.
PASSED AND ADOPTED this 21st day of August, 1995.
ATTEST:
T -
Deputy City erk of the City of Costa Mesa
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss
CITY OF COSTA MESA )
.�' 6� - ��
May of the City of Costa Mesa
ROVED AS TO FORM
Iw.tr•s..� Q- E � "SJ
CITY ATTORNEY
I, MARY T. ELLIOTT, Deputy City Clerk and ex -officio Clerk of the City Council of
the City of Costa Mesa, hereby certify that the above and foregoing Resolution No. 64
was duly and regularly passed and adopted by the said City Council at a regular meeting thereof
held on the 21st day of August, 1995.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the Seal of the City
of Costa Mesa this 22nd day of August, 1995.
Deputy Citylerk and ex -officio Clerk of
the City Cou it of the City of Costa Mesa
EXHIBIT "A"
CITY OF COSTA MESA
1974 OPEN SPACE BOND ISSUE
TAR RATE CALCULATION
FISCAL YEAR 1995-96
Amount to be levied:
1995-96 Debt service requirement $ 277,320
Less: Unsecured roll revenue 31,722
Supplemental roll revenue 1,368
Amount to be levied $ 244,230
Tax rate calculation: $ 244,230
Amount to be levied
Divide by current net assessed valuation 5,545,465,063
Tax rate .000044 or .0044%